Appraising and being involved in real estate sales for over 30 years allows me to see epic "renovation" nightmares. The unfortunate side of this are the buyers who often expect their agent to flag issues. Will your agent spot renovation disasters? Well, that depends on if you properly qualified them, if they have the capacity to spot issues and whether they are more concerned with a commission or keeping you out of trouble.
This home was noted as "completely updated" and buyers of mine wanted to see it. The usual flags popped just off the desktop review but a base of knowledge is critical for buyers, looking at homes and seeing issues helps to better understand the process. This home however, was a graduate course in renovation disasters - and renovation is the listing agent's term.
The video doesn't capture the meatball work done inside, it would be overkill. The stucco application is classically incorrect. The termite damage is clearly obvious; both ignored and not disclosed. The water intrusion is also obvious and not disclosed. Despite all of this, the listing just turns a blind eye to all of this. In full disclosure, Georgia is a buyer beware state; sellers are expected to disclose what they know or issues they are aware of that might be hidden. In this case, basic observation reveals these issues, but what's not visible? How much damage behind those walls?
Encouraged by the National Association of Realtors and down to the local board level, EVERYONE touted real estate as the perfect "covid" job. There are more agents now than ever before - as the number of sales continues to sink to historic lows. Practically speaking, there are agents that don't care, don't have the knowledge to spot trouble or just want a commission. Buyers share the blame if they don't vet these agents. This home is under contract, and the fuse is burning on the new buyer because this will not end well.
Posted by Hank Miller on